VW’s German plant workers share the profits
They earned cheques worth $6,250 reflecting a strong 2014.
FRANKFURT — Volkswagen AG says its workers based in Germany are getting 5,900 euros ($6,250) each in profit-sharing bonuses that reflect the company’s strong 2014.
The company’s personnel chief, Horst Neumann, said the payouts reflect “a strong team performance in several markets despite the difficult conditions.”
The amount was based on negotiations with worker representatives and goes to employees covered by collective bargaining agreements at plants in Brunswick, Emden, Hanover, Kassel, Salzgitter and Wolfsburg.
Volkswagen last year increased net profit by 20% to 10.8 billion euros (currently $11.5 billion). The automaker has issued a cautious outlook for this year, saying it faces “a persistently challenging market environment.”
Wolfsburg-based Volkswagen’s brands also include Audi, SEAT, Skoda, and Lamborghini.